Start an AVC?
All forms, guides and documents relating to AVCs are available in one convenient place.
Additional Voluntary Contributions (AVCs)
AVCs allow you to build up an additional fund alongside your LGPS pension.
Contributions are deducted from your pay before tax, so if you pay tax you will automatically receive tax relief. You can choose to pay either a percentage of your salary or a fixed monthly amount.
You can increase, reduce, stop or restart your contributions as your circumstances change. Your savings will be invested in a personal account with Clerical Medical.
You can contribute up to 100% of your pensionable pay, less your LGPS contributions and statutory National Insurance deductions.
Shared Cost AVCs
If your employer offers Shared Cost AVCs, your contributions may be more cost-effective.
This arrangement operates through salary sacrifice, meaning that you do not pay tax or National Insurance on these contributions.
Check with your employer to find out whether a Shared Cost AVC scheme is available to you.
Important: If you are considering making additional pension contributions, you should ensure that you do not exceed Annual Allowance tax limits. See the Tax and Pension Benefits